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'World-Con': Massive Accounting Fraud Hits Wall Street Again Save
"The gargantuan telecommunications firm WorldCom announced on Tuesday that it is restating its financial statements for 2001 and first quarter 2002 because of incorrect capital expenditure accounting." News and reader discussion. [Plastic]
http://www.plastic.com/article.html?s...   

Bernie Ebbers pleads not guilty to fraud Save
The former chief executive of Worldcom is charged with fraud, conspiracy and making false statements regarding the company's finances.[BBC]
http://news.bbc.co.uk/1/hi/business/3...   

Gloom at WorldCom Centre Save
"WorldCom's employees are feeling betrayed and bitter." By Nick Childs. [BBC News]
http://news.bbc.co.uk/1/hi/business/2...   

How Auditor Found $4bn Black Hole Save
"The financial scandal that has enveloped WorldCom, one of America's largest phone companies, was unearthed by an employee running a spot check on the Mississippi-based company's books." By Julian Borger and Richard Wray. [Guardian]
http://www.guardian.co.uk/Archive/Art...   

Internet Fears over WorldCom Scandal Save
"With 40% of internet traffic using WorldCom's network, worries are spreading about what effect a collapse might have." [BBC News]
http://news.bbc.co.uk/1/hi/business/2...   

- MCI Insiders Break Their Silence Save
Stories of "modern call center hell" submitted by MCI staffers. By Andrew Orlowski. [Register]
http://www.theregister.co.uk/content/...   

MCI Paralyzes US Reg Bureau Save
The Register falls victim to MCI "random billing". By Andrew Orlowski. [Register]
http://www.theregister.co.uk/content/...   

SBC Ameritech Files Complaint Against MCI for Slamming in Illinois Save
"SBC Ameritech Illinois filed a complaint with the Illinois Commerce Commission calling for an end to alleged deceptive sales and marketing practices, and slamming by WorldCom Inc.'s MCI Group." [SF Gate]
http://www.sfgate.com/cgi-bin/article...   

SEC Charges WorldCom’s Former CFO with Financial Fraud Save
The commission charged Scott D. Sullivan, WorldCom's former Chief Financial Officer, with altering WorldCom's books and making false and misleading statements about the health of the company. [SEC]
http://www.sec.gov/news/press/2004-25...   

SEC Statement Concerning WorldCom Save
"The WorldCom disclosures confirm that accounting improprieties of unprecedented magnitude have been committed in the public markets."
http://www.sec.gov/news/press/2002-94...   

Spotlight on: SEC v. WorldCom Save
Provides links to SEC and court documents regarding the WorldCom case.
http://www.sec.gov/spotlight/worldcom...   

Who Watches the Watchers? Save
"US regulators are scrambling to line up new accounting rules in the wake of the Enron and WorldCom affairs, but are they doing enough?" Analysis by Jeremy Scott-Joynt. [BBC News]
http://news.bbc.co.uk/1/hi/business/2...   

WorldCom 'Must File Report by Monday' Save
"WorldCom, the disgraced telecommunications giant, has today been told it has until Monday to explain to regulators how it inflated profits by $4bn (£2.5bn)." By Mark Tran. [Guardian]
http://www.guardian.co.uk/Archive/Art...   

WorldCom's $3.8 Billion Scandal Save
"Telecom sector reels after accounting disclosure." By Shawn Langolis. [CBS Marketwatch]
http://www.marketwatch.com/news/yhoo/...   

WorldCom: The Sky is Falling Save
ZDNet News special report. "It's Enron, part II. Add almost $4 billion in 'outrageous' accounting irregularities to a company already in debt, and you've got a crisis."
http://zdnet.com.com/2251-1110-939831...   

WorldCom: What the US Papers Say Save
"Ros Taylor takes a look at how the American media are reacting to the latest corporate scandal to rock the financial markets." Press review. [Guardian]
http://www.guardian.co.uk/Archive/Art...   

WorldCom Facing Charges of Fraud; Bush Vows Inquiry Save
"The Securities and Exchange Commission filed fraud charges against WorldCom yesterday and President Bush vowed to 'hold people accountable' for the bookkeeping scandal at the company, the nation's second-largest long-distance provider and a major carrier of Internet traffic." By Simon Romero. [New York Times] [Free subscription required.]
http://www.nytimes.com/2002/06/27/bus...   

WorldCom Formally Charged with Fraud Save
"WorldCom today moved closer to bankruptcy as US regulators formally charged the telecoms giant with fraud by inflating its profits through improper accounting." By Mark Tran. [Guardian]
http://www.guardian.co.uk/worldcom/st...   

WorldCom Staff Brace for Cuts Save
"The US telecoms giant is set to give details of 17,000 job cuts as Congress and officials start the investigation into the firm's accounting fraud." [BBC News]
http://news.bbc.co.uk/1/hi/business/2...   

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